RALEIGH, NC – August 16, 2016 – As pioneers of self-publishing, and the knowledge sharing economy, Lulu is right at home with breaking down the barriers that prevent people from sharing their stories with the world. The latest of those efforts has Lulu teaming up with Adyen Payments Technology to expand international payment options that will bridge the gap between its authors and millions of more readers all over the globe.
“Lulu.com provides knowledge entrepreneurs and writers a unique opportunity to monetize their work. It is our core mission to make them as successful as possible. Integrating Adyen maximizes the addressable audience for our author’s work and significantly increases their book sales potential,” said Nigel Lee, Lulu CEO. According to Statista, in 2015, retail e-commerce sales worldwide amounted to 1.67 trillion US dollars. Among those online customers who use credit cards, millions of people don’t use international credit cards, choosing instead to pay with local cards which are limited to domestic transactions only. Domestic cards require a local entity and only allow a customer to purchase goods from a business in their locale, which is not always possible for international online businesses. As a result, it is difficult for millions of users worldwide to make international online purchases.
The integration of Adyen’s global platform enables Lulu to accept payments from customers in any country, and process more payment methods and currencies than any of its competitors. Lee also stated, “With over 1.6 million print books, and almost 900,000 eBooks published, Lulu is the world’s largest independent bookstore. That being said, nothing felt worse than one of our authors in Italy or France not being able to sell one of their books to a customer in their locale due to our inability to accept their trusted local payment method.” This is not a problem unique to Lulu though, as bank cards and other localized forms of payment continue to be the favored way to purchase online goods in countries like Germany, India, and the Netherlands. For example, the Dutch ecommerce market size is an estimated 19 billion USD, with iDeal (online bank pay) claiming 54% of the marketshare. Arguably more impressive, in Germany, only 25% of shoppers use credit cards when making an online purchase. “The ability to make the payment transaction process as easy as possible for our international customers will help optimize online sales, while exponentially increasing the potential reader base of Lulu’s authors,” said Matt Briel, head of Growth Marketing for Lulu.
Since 2002, Lulu has enabled authors in more than 225 countries and territories to self-publish nearly two million publications. Our industry-leading tools and global community help authors hone their craft and publish printed books and eBooks for free, then sell them in online bookstores around the world. At Lulu, authors are in control, owning the rights to their works, setting their own price and keeping up to 90 percent of their book profits. Lulu is a certified B corporation.
Adyen is a leading payments technology company that provides businesses a single global platform to accept payments anywhere in the world. Driven by a vision to improve customer experience, streamline processes and ultimately increase revenue, Adyen enables businesses to process payments across online, mobile and Point-of-Sale (POS) with over 250 payment methods and 187 transaction currencies. Adyen serves more than 3,500 businesses and four of the five largest U.S. Internet companies, including well-known brands such as Facebook, Airbnb, Spotify, Netflix, Groupon, Evernote, Booking.com, Yelp, Vodafone, Mango, Netflix, O’Neill, SoundCloud, KLM and JustFab.
Contact: Matt Briel